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About The nugget. (Sisters, Or.) 1994-current | View Entire Issue (Feb. 24, 2016)
22 Wednesday,February24,2016The Nugget Newspaper,Sisters,Oregon LOANS: Councilstill definingparameters ofprogram Continued from page 1 Sisters’programisbeing craftedtobepurposelybroad so it can be used for both retention and attraction of jobs in order to drive eco- nomicgrowth. Ingeneralterms,aforgiv- able loan requires the bor- rower(thecompany)tofol- low certain restrictions and achieve certain milestones withinasetperiodoftime.If alltherequirementsaremet, theloanprovider(theCity) willeitherpardonaportion of the loan or convert the entireloanintoagrant,for- givingtheloan. Failuretomeettheterms of a forgivable loan would resultinanobligationtopay back the loan, usually with interest.When the business succeeds, the City would be paid back indirectly through the increase in tax revenue, jobs, investment, increasedschoolenrollment, andsoon. ToassisttheCity,athree- manadvisorycommitteehas beenestablishedtooffertheir expertise.BillKuhn,senior vice president and com- mercial loan manager with the Bank of the Cascades, has been involved in simi- lar work with other Central Oregoncommunities. BillHall,Sistersresident, was the former chairman of the Community Assets Committeeandhas40years ofexperienceinengineering, qualityassurance,andproj- ect management, as well as problem-solvingandprocess analysis. Sisters resident Chuck Ryan has recently retired fromalongcareerinfinan- cial management, bringing extensive experience in all thingsfinancial. The committee has con- sidered the structure of the loan program, necessary requirementsforbusinesses toqualify,possiblerangesof loans, necessary employee retention periods, and time periods allowed for reloca- tion and reaching agreed employeelevels. The committee has met several times with Council to report on their progress andtoseekclarificationand direction. Upon comple- tionoftheirwork,theywill present to City staff their recommended terms of agreement for a forgivable- loan program, which will be presented to Council in a public hearing for their adoption. When a business is approved for a forgivable loan, there would be an agreementthatwithinagiven periodoftime,theywillbe providing a certain num- berofjobsatagivenwage. Therewouldbeatimeframe withinwhichthoseemploy- ees will be hired, and the positions would have to be retainedforapredetermined amountoftime. Thereareanumberoffac- torsassessedwhenconsider- ing a company’s eligibility foraforgivableloan,includ- ing financial stability and anticipatedreturnoninvest- ment.Ifacompanyqualifies, theywouldbegrantedaloan thatrepresentsacertaindol- lar amount per anticipated eligibleemployee. Work by the advisory committee is ongoing, with theirfinalrecommendations to the City expected to be availableshortly. LETTERS Continued from page 2 overwhelmingresponseoflawenforcement people,firemenandfriendswhocamefrom allacrosstheU.S.toshowtheirrespect.This isthestuffDanGlodeasksusalltoappreciate andremember.Thankyou,policeofficers. LindaandRichardPatterson s s s TotheEditor: Thank you for your editorial entitled “SavingtheWest.”Inourstruggleswiththe Westernlandscape,wesometimesfocustoo muchonwhatisnotworkinganddonottake thetimetoacknowledgeouraccomplishments. The restoration of Whychus Creek is a modelgainingnationalrecognitionforhow nonprofits,stateandgovernmentagenciesand farmerscancollaboratetogettheseproblems solved.Icommendyourlocalexampleofthe Sokol contribution to the restoration of the Whychus. However, your list had a glaring omis- sion … the patrons of the Three Sisters IrrigationDistrict.Inthelast10yearsthrough oureffortsandexpenseinconjunctionwith the Deschutes River Conservancy, we have returned24cfstotheCreek,whichis80per- cent of the total returns to the creek. So, a muchwiderswathofthelocalfarmingcom- munityisdirectlyinvolvedinthateffortand shouldbecommended. PatriciaApregan VicePresident ThreeSistersIrrigationDistrict s s s TotheEditor: Thanks for the Saving the West edito- rial. Not only did I learn about the Malpai Borderland Group, but I was able to cheer loudly for my dear neighbor Connie Hatfield. She’soutoftown,butIsavedcopiesofthe Nugget Newspapertomakesuresheandher familyseethekindandtruthfulwords.Ilearn somethingfromConnieeveryday,andmostly itisagraceful,lifewelllived. Thanks. JeanettePilak ATTENTION HEALTH AND WELLNESS BUSINESS OWNERS Focus on Health Spring/Summer 2016 Focus on Health is a 2-week promotion in The Nugget Newspaper March 9 & 16 Each participating business receives a full-color ad both weeks and a mini-article with photo in one issue. Health and wellness is a top priority for people in the Sisters area. Our beautiful outdoor environment attracts people who want a healthy, active lifestyle. Total cost is just $225 Save $297 over regular rate! Tell them about your products and services that will: • Enhance a healthy way of life • Prevent health problems and stress • Help them create a healthy environment inside and outside their home • Educate them about cutting-edge products and services that will help them maintain and improve health for themselves and loved ones Space is limited and this popular promotion sells out Please call Karen Kassy at 541-549-9941 to reserve your space today
